StockNews.com Begins Coverage on Iteris (NASDAQ:ITI)

StockNews.com initiated coverage on shares of Iteris (NASDAQ:ITI) in a research report released on Thursday morning. The brokerage issued a buy rating on the technology company’s stock.

A number of other research analysts have also commented on ITI. B. Riley reissued a neutral rating and set a $7.20 price target (down from $8.00) on shares of Iteris in a report on Wednesday, August 21st. Maxim Group reissued a hold rating on shares of Iteris in a research note on Monday, August 12th. Finally, Northland Capmk lowered shares of Iteris from a strong-buy rating to a hold rating in a research note on Friday, August 9th.

Iteris Stock Up 0.3 %

Iteris stock opened at $7.09 on Thursday. The firm has a 50-day moving average price of $5.60 and a two-hundred day moving average price of $4.98. Iteris has a 52-week low of $3.97 and a 52-week high of $7.12. The firm has a market capitalization of $304.69 million, a price-to-earnings ratio of 101.29 and a beta of 0.83.

Iteris (NASDAQ:ITI) last issued its quarterly earnings data on Thursday, August 8th. The technology company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.01). Iteris had a return on equity of 2.02% and a net margin of 0.80%. The business had revenue of $45.78 million for the quarter, compared to analyst estimates of $44.02 million. Research analysts expect that Iteris will post 0.18 earnings per share for the current year.

Insider Buying and Selling at Iteris

In other news, major shareholder Samjo Management, Llc sold 848,300 shares of Iteris stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $6.99, for a total value of $5,929,617.00. Following the transaction, the insider now owns 4,165,000 shares of the company’s stock, valued at approximately $29,113,350. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders sold 2,050,885 shares of company stock valued at $14,340,733. 7.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Iteris

Several large investors have recently modified their holdings of the stock. Cubist Systematic Strategies LLC purchased a new stake in shares of Iteris during the second quarter valued at $91,000. First Eagle Investment Management LLC lifted its stake in Iteris by 3.7% during the second quarter. First Eagle Investment Management LLC now owns 515,381 shares of the technology company’s stock valued at $2,232,000 after buying an additional 18,289 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Iteris by 24.2% in the second quarter. Renaissance Technologies LLC now owns 375,885 shares of the technology company’s stock worth $1,628,000 after buying an additional 73,300 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Iteris by 4.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,103,776 shares of the technology company’s stock worth $4,779,000 after buying an additional 43,493 shares during the period. Finally, Private Management Group Inc. increased its position in shares of Iteris by 13.3% in the second quarter. Private Management Group Inc. now owns 1,626,954 shares of the technology company’s stock worth $7,045,000 after acquiring an additional 191,511 shares in the last quarter. 51.16% of the stock is owned by institutional investors.

Iteris Company Profile

Iteris, Inc provides intelligent transportation systems technology solutions in North America, Europe, South America, and Asia. The company offers smart mobility infrastructure solutions include traveler information systems, transportation performance measurement software, traffic analytics software, transportation operations software, transportation-related data sets, advanced sensing devices, managed services, traffic engineering services, and mobility consulting services.